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cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> pelley: by top 2%, he means individuals making more than $200,000 and couples taking in $250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican spe
cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's...
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Dec 4, 2012
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the proposals to avert that fiscal cliff will really have. tonight we tackle the much-discussed concept of increasing tax rates for the top 2%. chief business correspondent ali velshi joins me now. help us cut through the spin. the partisans all have a different take on this. if you raise taxes on the top 2%, what's the impact? what does it look like and how much of an impact would it have on the deficit? >> well, let's look at it in two ways. one is income tax, right? right now, the highest earners, those households that earn more than a quarter million dollars a year, pay a higher tax rate on the marginal amount, the amount above the $250,000 a year. so we're talking about taking that rate from 36% to 39.6% if we even go there. that hasn't even been negotiated yet but that's 3.6% on every dollar you earn above $250,000. there are not a lot of studies that suggest that that would have catastrophic effects on the economy. the other area that democrats want to raise taxes are on investment income, things like capital gains, dividend income. no
the proposals to avert that fiscal cliff will really have. tonight we tackle the much-discussed concept of increasing tax rates for the top 2%. chief business correspondent ali velshi joins me now. help us cut through the spin. the partisans all have a different take on this. if you raise taxes on the top 2%, what's the impact? what does it look like and how much of an impact would it have on the deficit? >> well, let's look at it in two ways. one is income tax, right? right now, the...
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cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor says more needs to be done about spending right now. >>> meanwhile, public policy polling conducted an unusual survey to test american knowledge about debt reduction policy. people were asked what they thought of the panetta burns planning, something that doesn't even exist. one-fourth of the people took a stance on it anyway. 8% are in support by golly. 17% opposed. >> that's right. it's important to do research. >> absolutely. >> do your homework. >>> apple stock is coming off one of its worst sections on
cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader...
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it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like responsible adults. tonight, signs that maybe some adult behavior might be prevail. and a compromise might be reached. joining me now, dana bash, jessica yellin, and david gergen. what's the latest? >> reporter: they are a long way from a deal. but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no
it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials...
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Dec 4, 2012
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off the fiscal cliff. the 10-year plan promises to shave $2.2 trillion through a combination of entitlement cuts and tax reform measures. but house republicans still refuse to meet president obama's bottom line. letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced today whether they would review prop 8. instead the justices announced that they will wait until friday to discuss whether to take up the case. legal experts say the delay ruling means nothing. >> it's like we have so many cases on the docket. let's put this one off next week, no big deal. that's really what happened. it really isn't the dog that didn't bark, but it's the case that has not been resolved yet and we're still waiting. >> professor little says he expects if the court grants a review that we'll know by friday. but if
off the fiscal cliff. the 10-year plan promises to shave $2.2 trillion through a combination of entitlement cuts and tax reform measures. but house republicans still refuse to meet president obama's bottom line. letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced...
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in his budget even if congress and the white house reach a deal to avert the fiscal cliff. >>> a developing story out of north korea. the country may set off a long range rocket as early as this monday. that's according to media reports in south korea. the rocket is reportedly being fueled, but heavy snowfall may have slowed down preparations. north korea wants to launch what it calls a peaceful satellite sometimes before november 22nd. the u.s. believes the rocket is a cover to test missile technology. >>> president obama is speaking out against ongoing unrest in egypt. he has called egyptian president mohamed morsi to express concern about recent protests that have resulted in numerous deaths and injuries, calling the violence unacceptable. president obama did welcome morsi's call for talks with opposition leaders. this comes after a violent week in cairo. on wednesday night, six were killed and nearly 700 injured in protest outside morsi's palace. >>> this morning d.c. mayor vincent gray will announce a new flood prevention for bloomingdale. this comes after flash floods swamped that nei
in his budget even if congress and the white house reach a deal to avert the fiscal cliff. >>> a developing story out of north korea. the country may set off a long range rocket as early as this monday. that's according to media reports in south korea. the rocket is reportedly being fueled, but heavy snowfall may have slowed down preparations. north korea wants to launch what it calls a peaceful satellite sometimes before november 22nd. the u.s. believes the rocket is a cover to test...
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. >>> back here at home, issue number one is reaching a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases, if negotiations break down. both sides of the aisle are going straight to the public in order to plead their case or tell us why the other side is to blame. this is president obama a in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. but, it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes that hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of the aisle are
. >>> back here at home, issue number one is reaching a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases, if negotiations break down. both sides of the aisle are going straight to the public in order to plead their case or tell us why the other side is to blame. this is president obama a in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a...
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go to oralb.com for the latest offers. >>> the fiscal cliff means a lot of things are on the cutting block right now. one involves the most dependable of cuts are mortgages. >> you basically have 270 degrees of pure ocean. >> amazing views, luxury bathrooms and a gourmet kitchen. the owner of this $8 million penthouse in coconut grove, florida is eager to sell it before the end of the year. capital gains taxes will go up for homeowners with a lot of equity in their homes selling now could make a big difference. >> if you're looking at a $10 million sale price and 5 mill$5 million equity in the home, the capital gains is $5 million. in theory, there's a half a million dollar savings for seller and buyer to get the deal done. >> some possible outcomes of the fiscal clif negotiations could have a major impact on you. congress could limit the amount of home mortgage interest homeowners could write off on their taxes. one proposal would cap the deduction at $500,000, half of what it now is. lawmakers also may limit tax breaks for second homes. distressed homeowners also could see major ch
go to oralb.com for the latest offers. >>> the fiscal cliff means a lot of things are on the cutting block right now. one involves the most dependable of cuts are mortgages. >> you basically have 270 degrees of pure ocean. >> amazing views, luxury bathrooms and a gourmet kitchen. the owner of this $8 million penthouse in coconut grove, florida is eager to sell it before the end of the year. capital gains taxes will go up for homeowners with a lot of equity in their homes...
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Nov 30, 2012
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cliff issue? >> i think democrats have already shown a willingness to make very significant cuts. we've already in the budget control act agreed to an excess of $1 trillion of cuts. that's a pretty good faith counsel payment on our willingness to come to the table and do things that are very painful and difficult for us to do. we haven't seen that yet reciprocated in terms of gop willingness to raise the kind of revenues that we've already committed to reducing in terms of spending cuts. but i think we've demonstrated very good faith that we're ready to make the hard calls to pay down our debt, balance our books. at the same time, we don't want to take steps that are going to be counter productive? terms of the economy and getting people employed again. we don't want to go with an austerity approach like europe that will put us into potentially a double dip recession. >> speak to me about another issue that you've really been on the forefront of, and that is immigration reform, specifically as it
cliff issue? >> i think democrats have already shown a willingness to make very significant cuts. we've already in the budget control act agreed to an excess of $1 trillion of cuts. that's a pretty good faith counsel payment on our willingness to come to the table and do things that are very painful and difficult for us to do. we haven't seen that yet reciprocated in terms of gop willingness to raise the kind of revenues that we've already committed to reducing in terms of spending cuts....
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cliff. the gop says its proposal would save $800 billion through tax reform. $900billion in mandatory spending cuts, and $300 billion in discretionary cuts. it does not increase tax rates on upper income americans which the white house insists must be included in any deal. >>> on wall street stocks lost ground. nasdaq dropped 8 points. analysts point to a decline in manufacturing, and ongoing worries over the fiscal cliff. >>> what some hoped would be a historic announcement on life on mars didn't amount today. project scientists said soil tests performed by the curiosity rover only showed organic compounds. no proof yet that life existed, or could exist on the red planet. the scientists created big expectations by saying it would be one for the history books. today they said they were only referring to the richness of the data coming from the rover. ♪ [ music ] of course. >>> live storm tracker 2 picking up showers north of us. these showers are going to work their way south. the computer
cliff. the gop says its proposal would save $800 billion through tax reform. $900billion in mandatory spending cuts, and $300 billion in discretionary cuts. it does not increase tax rates on upper income americans which the white house insists must be included in any deal. >>> on wall street stocks lost ground. nasdaq dropped 8 points. analysts point to a decline in manufacturing, and ongoing worries over the fiscal cliff. >>> what some hoped would be a historic announcement...
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cliff. the gop says its proposal would save $800 billion through tax reform. $900billion in mandatory spending cuts, and $300 billion in discretionary cuts. it does not increase tax rates on upper income americans which the white house insists must be included in any deal. >>> on wall street stocks lost ground. nasdaq dropped 8 points. analysts point to a decline in manufacturing, and ongoing worries over the fiscal cliff. >>> what some hoped would be a historic announcement on life on mars didn't amount today. project scientists said soil tests performed by the curiosity rover only showed organic compounds. no proof yet that life existed, or could exist on the red planet. the scientists created big expectations by saying it would be one for the history books. today they said they were only referring to the richness of the data coming from the rover. ♪ [ music ] of course. >>> live storm tracker 2 picking up showers north of us. these showers are going to work their way south. the computer
cliff. the gop says its proposal would save $800 billion through tax reform. $900billion in mandatory spending cuts, and $300 billion in discretionary cuts. it does not increase tax rates on upper income americans which the white house insists must be included in any deal. >>> on wall street stocks lost ground. nasdaq dropped 8 points. analysts point to a decline in manufacturing, and ongoing worries over the fiscal cliff. >>> what some hoped would be a historic announcement...
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>> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree
>> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney...
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by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible
by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the...
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the mandatory increases across the board taxes from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want the president and john boehner, the republican leadership and democratic leadership to come up with something that avoids going over the fiscal cliff. i think that's what that poll shows. >> let me change topics for a bit. news broke just before the program that republican senator jim demint is leaving. he decided to take over the heritage foundation. i have a question for you in that was this expected? he's a staunch conservative and opponent to craving into democrats and how do those things factor into a way ahead for republicans in the senate? >>
the mandatory increases across the board taxes from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to...
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. >>> another big story, the fiscal cliff debate. and fox 5 learned that president obama and john boehner spoke on the issue today, but the results have not been made public. the white house is asking federal agencies to plan for $100 billion in spending cuts and that is what happened if not resolved. administration believes the deal will be done. john boehner made an offer earlier this week putting $800 billion on new revenue on the table. he got hit hard by the administration and members of his own party. >> we have to cut spending and, i believe, it's super flowous. >> and that is a law, higher rates to go up for the 2072%, including all of you. yes. >> reporter: president obama was speaking to business leaders when he made the comment. he insists he will veto any bill not including tax increases on wealthier americans. >>> the defense department started planning for the roughly $500 billion in personnel cuts. the pin is not talking to the defense contractors of public plans. >>> the council made it clear that it's not following t
. >>> another big story, the fiscal cliff debate. and fox 5 learned that president obama and john boehner spoke on the issue today, but the results have not been made public. the white house is asking federal agencies to plan for $100 billion in spending cuts and that is what happened if not resolved. administration believes the deal will be done. john boehner made an offer earlier this week putting $800 billion on new revenue on the table. he got hit hard by the administration and...
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tax hikes and spending cuts. notice i did not call it the fiscal cliff. so ultimately which wins out? let's ask gina sanchez, director of equity and asset allocation at rubini global economics. dan, i know you've been traveling, london, san fran, all parts in between last couple of weeks. how concerned are your clients about what's going to happen on january 1st? >> it's not so much that they're concerned about what happens on january 1st because i think the bulk of our meetings have focused on the fact that this isn't really a cliff so much as a lot of people have been saying a slope. more importantly to your first question, i have been on the road for the better part of 2 1/2 months now. i don't really get many questions or have many debates about greece or spain anymore. i think there's definitely a back burner element to what's going on in europe as people focus whether it happens on january 1st or not on the fiscal cliff. >> let me follow up with that real quick. here's the thing -- the greek situation, which was driving the market negativity a few m
tax hikes and spending cuts. notice i did not call it the fiscal cliff. so ultimately which wins out? let's ask gina sanchez, director of equity and asset allocation at rubini global economics. dan, i know you've been traveling, london, san fran, all parts in between last couple of weeks. how concerned are your clients about what's going to happen on january 1st? >> it's not so much that they're concerned about what happens on january 1st because i think the bulk of our meetings have...
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. >> the pentagon is preparing for massive budget cuts in case the country does go over the fiscal cliff. the scaling back today became the triangle. >> welcome backs to fox and friends first. i am patti ann browne. >> i am ainsley earhardt. >> now it's time for the top 5@5:00. they are accused of aiding terrorists and threatening to use weapons of mass destruction in the united states. they will come face to face with a judge in florida. he and his brother both from pakistan gave money, housing and other support to terrorists planning a wmd attack. >> i heard screaming and saw the escalator coming apart. those words from a macy's employee at bellevue in washington state. last night the stairs on an escalator there started collapsing while shoppers were on it. 4 people fell including two toddlers. only one of them a man suffer add minor injury. that's lucky. police say it was caused by a mechanical failure. there is no word how many people were on the escalator at the time. >>> first responders told to go sight seeing as sandy victims were suffering. fox news exclusively learned after ru
. >> the pentagon is preparing for massive budget cuts in case the country does go over the fiscal cliff. the scaling back today became the triangle. >> welcome backs to fox and friends first. i am patti ann browne. >> i am ainsley earhardt. >> now it's time for the top 5@5:00. they are accused of aiding terrorists and threatening to use weapons of mass destruction in the united states. they will come face to face with a judge in florida. he and his brother both from...
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. >>> they are looking for a plan to a void the fiscal cliff. congressmen were on capitol hill talking about a negative impact in the spending cuts kick in january 1st. president obama failed a visit to a northern virginia family -- had a visit to a northern virginia family that that would affect if that happened. >> gives you a sense o of the costs involved in very personal terms. >> still the white house says those across the board spending cuts and tax hikes will take effect if republicans fuse to raise taxes on the wealthiest americans. >>> one of the tea party movements favorite lawmakers is is leaving the senate. south carolina republican jim demint announced yesterday that he's cutting his term short to join the heritage foundation. he said he would not run for a third term in 2016. >>> we're going to get the november jobs report from the labor department. they expect the unemployment rate to hold steady at 7.9% but they think job creation was down substantially from october because of superstorm sandy. >>> apple fans, did you know all yo
. >>> they are looking for a plan to a void the fiscal cliff. congressmen were on capitol hill talking about a negative impact in the spending cuts kick in january 1st. president obama failed a visit to a northern virginia family -- had a visit to a northern virginia family that that would affect if that happened. >> gives you a sense o of the costs involved in very personal terms. >> still the white house says those across the board spending cuts and tax hikes will take...
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a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to get it out over a $1 billion patent fight. meantime nationwide insurance is warning customers that its computers networked had been attacked. customers' names birth dates social skirted numbers and driver's license numbers were likely stolen. nationwide is apologizing and are offering customers an identity that protection for one year. start planning did vacations, walt disney new fantasyland is officially open. this is after what may be the biggest expansion in the orlando parts 41 year history. the estimated $300 million magic king
a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to...
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tonight we are one day closer to the fiscal cliff and not one iota closer to a deal to avoid it. now, on january 1st, four weeks from today, automatic tax hikes and spending cuts kick in with potentially serious consequences for virtually every taxpayer in this country. there has been zero progress on a deal, zero. keeping them honest though, the american people clearly want a compromise, polls show they want results. but the two sides are still far apart on the issue at the heart of the debate, whether the wealthiest americans should pay more taxes than they do right now. the people you elected to get things done, they're not getting them done, not even close. in a cnn/orc poll taken a few weeks ago, 67% said washington officials would behave like spoiled children in fiscal cliff discussions. only 28% said they would behave like responsible adults. with that in mind, here's what the key players, the grownups, have said in just the past 24 hours. listen. >> the math, it doesn't work. >> his proposal was so outlandish, i don't think we should go back to the table until he puts som
tonight we are one day closer to the fiscal cliff and not one iota closer to a deal to avoid it. now, on january 1st, four weeks from today, automatic tax hikes and spending cuts kick in with potentially serious consequences for virtually every taxpayer in this country. there has been zero progress on a deal, zero. keeping them honest though, the american people clearly want a compromise, polls show they want results. but the two sides are still far apart on the issue at the heart of the...
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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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as they prepare to go over that fiscal cliff. hundreds of thousands of the jobs all over california could be affected, allison? >> 135 government workers in california could lose their jobs if there is no deal on those spending cuts that kick in at the end of the month. they say not only to plan for the cuts but that has changed. they are preparing to slice about 10% of their budget. experts are looking at 135 defense employees could lose their jobs but experts say there is still time to reach a deal and avoid those major lawsuits. >> nobody wants to reach a deal more than i. i will be ready to sit down with the president and solve this. >> reporter: they could be hit the hardest and i will have more about it during my next update on ktvu channel 2 morning news. >>> they are looking at grant money from the environmental protection agency. each student could be awarded a large sum of money. stanford's group wants to disinfect drinking water in bangladesh. in april they go to washington d.c. to prevent their work to a panel of scie
as they prepare to go over that fiscal cliff. hundreds of thousands of the jobs all over california could be affected, allison? >> 135 government workers in california could lose their jobs if there is no deal on those spending cuts that kick in at the end of the month. they say not only to plan for the cuts but that has changed. they are preparing to slice about 10% of their budget. experts are looking at 135 defense employees could lose their jobs but experts say there is still time to...
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amanda says i can't afford to go off a fiscal cliff. i'm cutting down in expenditures and gary says i'm prepared to get my passport and look for a new country. stick a fork in it.
amanda says i can't afford to go off a fiscal cliff. i'm cutting down in expenditures and gary says i'm prepared to get my passport and look for a new country. stick a fork in it.
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cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool. >> yes. >> and they need to inspect it. >> counter-terrorism measures in the backyard. you never know. good morning, everyone. getting out the door this morning, it's very cold up in new england. tell you what, the lack of snow is really becoming a slightly alarming especially if you have any interest in snowy weather recreation or skiing or ice skating or maybe you like to go snowmobiling. the northern half of the country is sparse. 7% of the country has snow cover. most of that is the high elevations in the rockies and northern rockies. it's about as low as it gets. last yea
cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool....
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lori: because of the drought conditions, because of the overall economic challenges, the fiscal cliff, we have to talk about that, do you find that farmers are cutting back? >> it is just the opposite. they try to be more advanced in technology. you can do more intelligent farming. also in the case of bad weather conditions. lori: what is the greatest in farming equipment? >> it has everything you would like to have. you could not go to new york and park it and do your business shopping because it goes 40 miles per hour. lori: that is not too shabby. that is actually pretty fast. 13% net profit in the third quarter. what are you forecasting for the duration of the year? >> this is a difficult question to answer. the guidance, about 10 billion topline and 520 and earnings per share. i think that is where we will be, hopefully a little better. i am pretty optimistic for 2013. lori: farming equipment is not my expertise. this is a wonderful segment. thank you very much. really wonderful to meet you this afternoon. thank you. >> thank you. lori: "the closing bell" ringing in about 40 minu
lori: because of the drought conditions, because of the overall economic challenges, the fiscal cliff, we have to talk about that, do you find that farmers are cutting back? >> it is just the opposite. they try to be more advanced in technology. you can do more intelligent farming. also in the case of bad weather conditions. lori: what is the greatest in farming equipment? >> it has everything you would like to have. you could not go to new york and park it and do your business...
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amanda says i can't afford to go off a fiscal cliff. i'm cutting down in expenditures and gary says i'm prepared to get my passport and look for a new country. stick a fork in it. we're just about done. are you listening, lawmakers and president obama? facebook.com/car facebook.com/carolcnn if you would like to continue the conversation. thanks for the responses. i appreciate t
amanda says i can't afford to go off a fiscal cliff. i'm cutting down in expenditures and gary says i'm prepared to get my passport and look for a new country. stick a fork in it. we're just about done. are you listening, lawmakers and president obama? facebook.com/car facebook.com/carolcnn if you would like to continue the conversation. thanks for the responses. i appreciate t
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yet, here we are on the edge of this fiscal cliff. we're not sure what will happen. many people predicting we'll go over the cliff. if we go over the cliff and the automatic spending cuts take effect and the tax increases take effect, what do you think happens to the economy? >> well, at the brt meeting that you mentioned, where the president was nice enough to come over, the question was asked, if we go over the fiscal cliff, how many businesses in this room will reduce capital investment? remember, i just said -- and it's very demonstrable that capital investment is what drives gdp growth rate and job creation. that tells a story right there. if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >> well, you know, the 300,000 wonderful teammates of fedex are working very hard. we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments
yet, here we are on the edge of this fiscal cliff. we're not sure what will happen. many people predicting we'll go over the cliff. if we go over the cliff and the automatic spending cuts take effect and the tax increases take effect, what do you think happens to the economy? >> well, at the brt meeting that you mentioned, where the president was nice enough to come over, the question was asked, if we go over the fiscal cliff, how many businesses in this room will reduce capital...
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i think this is the first of many fiscal cliffs to come, if you will, much like debt ceilings of the 1980s. i think most investors have already done what they need to do for the fiscal cliff. it is called diversification. beyond that, i think they should focus more on what's going to be left after the cliff -- >> where can you hide? where can you diversify away from the fiscal cliff in minibonds? that's boring! >> well, i think you're sufficiently diversified. everyone should own a little bit of everything, stocks, bonds, commodities, overseas markets as well as domestic and real estate. and that's good enough. but i think if you do much more than that in anticipation of this, i think you're going to do yourself a disservice. i think it is better to focus on what we're going to return to very quickly after the end of this month or maybe a couple weeks into january and that's the fundamentals on the ground. they to me are looking better and better. >> you're a rich, successful guy. you're probably the mayor of minneapolis de facto. right? you got gold bars stashed in your garage out b
i think this is the first of many fiscal cliffs to come, if you will, much like debt ceilings of the 1980s. i think most investors have already done what they need to do for the fiscal cliff. it is called diversification. beyond that, i think they should focus more on what's going to be left after the cliff -- >> where can you hide? where can you diversify away from the fiscal cliff in minibonds? that's boring! >> well, i think you're sufficiently diversified. everyone should own a...
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. >> president obama is back on the stump pressing republicans to cut a deal averting the fiscal cliff. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: republicans say they want their christmas, too, and blame the president for the deadlock. >> there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: things got tense after treasury secretary geithner visited capitol hill thursday to present what republicans are calling an unreasonable proposal. it includes $1.6 trillion in new taxes. in part through raising rates on the top 2% and limiting loopholes and deductions. $50 billion in stimulus next year and $400 billion in medicare and other entitlement savings to be worked out. >> i think that the proposal that was delivered here by secretary goieithner to the speaker and me yesterday is not a serious proposal. >> they want to have this extra spending that actually greater than the amount they're willing to cut. >> but democrats say it was just a starting point and one republicans should c
. >> president obama is back on the stump pressing republicans to cut a deal averting the fiscal cliff. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: republicans say they want their christmas, too, and blame the president for the deadlock. >> there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: things got tense after treasury secretary geithner visited...
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. >>> we'll turn now to the fiscal cliff, 30 days from an economy-crippling deadline. where everyone's taxes go up and massive spending cuts kick in. yet, talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. george is with us now. good morning, george. >> last weekend, you sat right here and you said that you were reasonably optimistic that a deal could be afoot. in the intervening week, we have seen a lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, on thursday, the senate republican leader mitch mcconnell laughed when he got the offer from tim geithner. they think it's an offer that doesn't show any rules towards compromise. house speaker john boehner said that the talks are at a stalemate. there seems to be a huge divide. democrats said they're not going to make another move until republicans clearly say they're going to go for an increase in tax rates. rep
. >>> we'll turn now to the fiscal cliff, 30 days from an economy-crippling deadline. where everyone's taxes go up and massive spending cuts kick in. yet, talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. george is with us now. good morning, george. >> last weekend, you sat right here and you said that you were reasonably optimistic that a deal could be afoot. in the intervening week, we have...
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and incremental revenues, what is happening with the whole fiscal cliff mantra? once they have an understanding of what is going on and there's light at the end of the tunnel and the marketplace perceive that as something that will lead to economic growth in the united states u.n. absolutely see the individual investor get back and think aggressively. they're waiting and watching. liz: we have got to talk about perfect that you are now a coach again. you went back to your dream job, your coaching in coastal carolina. i love the cover of the book that has been written about you, it shows a guy with a briefcase heading back on to the field. what has that been like for you? what has the journey like? >> the journey itself for me has always been as much as i love football, what always impacted me most in the business world was the impact you might be able to have on others and for me it is about an 18 to 22-year-old boy learning to be a man and stand on his own two feet and a accept responsibility for himself and understand the needs to learn the consequences of his
and incremental revenues, what is happening with the whole fiscal cliff mantra? once they have an understanding of what is going on and there's light at the end of the tunnel and the marketplace perceive that as something that will lead to economic growth in the united states u.n. absolutely see the individual investor get back and think aggressively. they're waiting and watching. liz: we have got to talk about perfect that you are now a coach again. you went back to your dream job, your...
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cliff? >> officials hearsay there is still time to reach an agreement. they say there has been progress. republicans are now a incrows tn though they still don't want to raise tax rates. the folks here shrug off the fact there hasn't been a meeting of the president in a couple of weeks. and they suggest there won't need to be a meeting until republicans are ready to give in. >> it is our view that simply having conversations c congressional leaders will not produce a deal. what will produce a deal is an acknowledgment by republicans, republican leaders that rates on the top two percent, the wealthiest americans have to rise. there is no deal without that acknowledgment. >> the treasury secretary gite neither says the -- tab eitner says they are ready to go over the cliff. if republicans won't let the tax cuts expire, they say it is not a threat. shepherd? >> it is easy to say why they would be making those statements when there was a recent survey that showed 53% of people said if we do go o
cliff? >> officials hearsay there is still time to reach an agreement. they say there has been progress. republicans are now a incrows tn though they still don't want to raise tax rates. the folks here shrug off the fact there hasn't been a meeting of the president in a couple of weeks. and they suggest there won't need to be a meeting until republicans are ready to give in. >> it is our view that simply having conversations c congressional leaders will not produce a deal. what will...
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cliff, all those horrible cuts that could plunge us into a depression and all the rest that no democrats want either. so are you serious, you really -- are you really saying what i think you're saying, that is that it might be a strategy that the president really wants? wants us all to go over the cliff? and then just blame you? >> yeah. that i think that's to his political advantage to do that, because then he gets to blame us, set up the 2014 elections by us being the bad guys. but look at this. a lot of my colleagues on the other side of the aisle like the $600 billion hit to the defense department, and they'll absorb the 2% of cuts to the other programs out there. and remember, none of the cuts that are in the sequestration have to do with the big three on the entitlement programs. most of us would love to see an erskine bowles type of solution put on the table here. >> so what if there were -- >> the simpson/bowles, sorry. >> simpson/bowles, i understood what you mean. there is an erskine bowles as well. what about congressman tom coley, your colleague, and his overture that you wou
cliff, all those horrible cuts that could plunge us into a depression and all the rest that no democrats want either. so are you serious, you really -- are you really saying what i think you're saying, that is that it might be a strategy that the president really wants? wants us all to go over the cliff? and then just blame you? >> yeah. that i think that's to his political advantage to do that, because then he gets to blame us, set up the 2014 elections by us being the bad guys. but look...
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we're just 29 days away from the fiscal cliff and the possible start of tax hikes for you and your family. bush era tax cuts are set to expire at the end of the year, hitting middle-class families with an average $3,500 tax hike and a 7% increase for the top 1%. that's according to the tax policy center. treasury secretary timothy geithner set out his terms for an agreement that include more than a billion dollars in new taxes and tells cnn there will be no deal without tax rates going up on the wealthiest americans. but so far, neither side of the political aisle is budging. so what happens if a deal is not reached? and taxes go up? and spending cuts happen? let's ask wall street journal's senior economics writer steven moore and author of "who's the fairest of them all?" hi, steven. >> hi, good morning. >> what happens? i think lindsey graham came out and said, hey, i'm sure of it. we're going off the fiscal cliff. >> if you asked me a week or two ago i would have said there's no way this isn't going to get resolved. i've been watching for 25 years. these two sides are further apart tod
we're just 29 days away from the fiscal cliff and the possible start of tax hikes for you and your family. bush era tax cuts are set to expire at the end of the year, hitting middle-class families with an average $3,500 tax hike and a 7% increase for the top 1%. that's according to the tax policy center. treasury secretary timothy geithner set out his terms for an agreement that include more than a billion dollars in new taxes and tells cnn there will be no deal without tax rates going up on...